Overview: USD/CHF is consolidating with bearish bias after hitting eight-day low of 0.9379 on Thursday as markets await U.S. March Non-Farm Payrolls (expected to have increased by 200,000) and unemployment rate (expected to have stayed at 7.7%). USD/CHF is undermined by negative USD sentiment. But USD/CHF losses tempered by positions adjustment before weekend. Daily chart is negative-biased as bearish outside-day-range pattern was completed on Thursday; MACD and stochastics are in bearish mode. Recommendation: Sell below 0.9435 with downside targets at 0.9379 and 0.9333. Support levels: S1 – 0.9379 (Thursday’s low) S2 – 0.9333 (55-day moving average) S3 – 0.9292 (100-day moving average) Alternative scenario: Buy above 0.9435 with upside targets at 0.947 and 0.9526. Resistance levels: R1 – 0.9470 R2 – 0.9526 (Thursday’s high, matching Monday’s high) R3 – 0.9547-0.9553 band (March 28 high-March 27 high)
The material has been provided by InstaForex Company – www.instaforex.com
Overview:
USD/CHF is consolidating with bearish bias after hitting eight-day low of 0.9379 on Thursday as markets await U.S. March Non-Farm Payrolls (expected to have increased by 200,000) and unemployment rate (expected to have stayed at 7.7%). USD/CHF is undermined by negative USD sentiment. But USD/CHF losses tempered by positions adjustment before weekend. Daily chart is negative-biased as bearish outside-day-range pattern was completed on Thursday; MACD and stochastics are in bearish mode.
Recommendation:
Sell below 0.9435 with downside targets at 0.9379 and 0.9333.
Support levels:
S1 – 0.9379 (Thursday’s low)
S2 – 0.9333 (55-day moving average)
S3 – 0.9292 (100-day moving average)
Alternative scenario:
Buy above 0.9435 with upside targets at 0.947 and 0.9526.
Resistance levels:
R1 – 0.9470
R2 – 0.9526 (Thursday’s high, matching Monday’s high)
R3 – 0.9547-0.9553 band (March 28 high-March 27 high)
The material has been provided by InstaForex Company – www.instaforex.com
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